Morning News - 26 May 2016 - AXIATA / SIME / TM / RHBCAP / UOA / WCT / BONIA

Today’s Highlights

►    Results Note – Axiata (HOLD, maintain) - Weak tone from Celcom

►    Results Note – Sime Darby (HOLD, maintain) - Still challenging but some bright spots

►    Results Note – TM (HOLD, maintain) - Mobile ambitions almost a reality

►    Results Note – RHB Capital (BUY, maintain) - 1Q16 a surprise, beating expectations

►    Results Note – UOA Development (BUY, maintain) - Property sales improved 16% yoy

►    Results Note  – WCT Holdings (BUY, maintain) - Reversal of fortunes

►    Results Note  – Bonia (SELL, maintain) - FY16 remains challenging

Outside Malaysia            

►    US stocks rise amid optimism economy can handle higher rates

►    US home prices climbed 5.7% in first quarter from prior year

►    America’s trade deficit in goods widens less than forecast

►    Delaying rate hikes averted bigger slowdown, Fed economists say

►    ECB officials see time short for euro area to overcome fragility

►    German business ignores Brexit fears as confidence improves

►    Greece wins pledge for debt relief as IMF bows to euro plan

►    Oil climbs to 7-month high as US crude supply, output decline